Tech in Africa
Kenya consumer credit tech startup Lipa Later has launched in Uganda with the intent to offer quality products at affordable rates. Lipa Later marked its debut on the 24th of March at the Fairway Hotel in Kampala. Participants got to experience the strides Lipa Later is making in ensuring an affordable lifestyle is not only a reserve for a few but remains a basic human right.
Lipa Later began in 2016 and is run by CEO Eric Muli. Disrupt reported that the company’s expansion into markets such as Rwanda was possible after it raised seed funding from Lateral Capital and Platform Capital.
The startup relies on data analytics to provide customers with convenient and affordable credit while monetizing through commissions and interest charges.
Lipa Later’s Uganda venture will work closely with Mbawo Woodwork, Orca Furniture, Praise communications, Anisuma, and Simba Telecom, who were present during the launch to demonstrate some of the products people could acquire through Lipa Later.
Dr. Akintoye Akindele, the Chairman of Platform Capital pointed out that “Everyone should have the choice to live the life they want”.
Muli, Lipa Later’s CEO described the company as a “Ugandan solution to a Ugandan problem.”
